January 20, 2017 -- Inauguration

The inauguration! This is bigger than the Macy's Thanksgiving Day Parade! 

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Say Goodnight, Gracie

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Hey, Hey

Na, Na, Hey, Hey, Kiss Him Goodbye, Steam

 

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Tuned To CNBC

The Visual: the viewing stand is full of business leaders who have never been at an inauguration before, including 80-year-old Carl Icahn. Had this been a Hillary inauguration, this would have been all Hollywood -- it would have been like the Oscars -- with Meryl Streep leading the entourage. You just know that Barbara Streisand would have sung the national anthem. 

Representative John Lewis: who said he would not show up, looks like he was attending. CNBC is trying to sort this out. I saw him enter the viewing stands also; I thought it was him; he looked incredibly glum. But if he shows up, huge disappointment to those who said they would not attend after he said it was the first inauguration he would miss (a lie).

Inauguration: props to Hillary and Bill Clinton; they showed up for the inauguration

• Black caucus did not
• 60+ Democratic senators, Congressmen/women did not 
• Woody Allen: "90% of life is showing up"

Inauguration: stock market up about 100 points. Talking head on CNBC:

• within two months ObamaCare will be done (a trillion dollar in cuts)
• in six months corporate tax cuts and immediate depreciation
• comment: once "benefits" of making America great again start to be seen, this will gain a momentum; even CNBC talking about huge positive expectations

General tone:

• festive
• President Obama's legacy is already history
• very, very positive about a Trump presidency
• budget reconciliation: can't be filibustered 

WTI: up almost 3%

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Reflecting On "What Could Have Been"

Glum and Glummer

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No, Donald Trump won't be president -- George Clooney

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Clinton Foundation Dead

From Investor's Business Daily:

In a tax filing, the Clinton Global Initiative said it's firing 22 staffers and closing its offices, a result of the gusher of foreign money that kept the foundation afloat suddenly drying up after Hillary Clinton failed to win the presidency.

It proves what we've said all along: The Clinton Foundation was little more than an influence-peddling scheme to enrich the Clintons, and had little if anything to do with "charity," either overseas or in the U.S. That sound you heard starting in November was checkbooks being snapped shut in offices around the world by people who had hoped their donations would buy access to the next president of the United States. And why not?

There was a strong precedent for it in Hillary Clinton's tenure as secretary of state. While serving as the nation's top diplomat, the Clinton Foundation took money from at least seven foreign governments — a clear breach of Clinton's pledge on taking office that there would be total separation between her duties and the foundation. Is there a smoking gun?

Well, of the 154 private interests who either officially met or had scheduled phone talks with Hillary Clinton while she was secretary of state, at least 85 were donors to the Clinton Foundation or one of its programs.

Climate change? All references to climate change removed from White House website.

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Back To The Bakken

Active rigs:

	1/20/2017	01/20/2016	01/20/2015	01/20/2014	01/20/2013
Active Rigs	37	48	161	187	187

RBN Energy: drilling deeper into E & P companies' lease operating expenses.

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Big Oil

Big Oil back on the acquisition trail as outlook brightens -- Reuters via Rigzone.

• since late November: 11 deals worth more than $500 each; combined value of $31 billion
• crude oil reserves declining at a rate of 10% a year in some cases
• valuation of large firms: based on reserves to great extent -- could be main reason ExxonMobil doubled down on the Permian
• many small operators burdened with debt looking to sell

Major deals listed at the link; many have been previously posted at the blog.

 

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Rigs At Highest Level Since November, 2015

From Investor's Business Daily:

• led by the Permian
• up 29 to 551, across the US
• Permian: up 13 to 281
• Eagle Ford: up 2 to 43
• Bakken: up 3 to 35
• Niobrara: flat at 23

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Statoil Tests Methane Emissions Technology In Eagle Ford

From Rigzone:

• an Internet of Things (IoT) device that continuously monitors methane emissions
• the device leverages cloud-based analystics
• designed and deployed through the Methane Detectors Challenge -- a partnership between the Environmental Defense Fund, Statoil, and other oil and gas companies 

Meanwhile an IoT methane-monitoring backpack device attached to cattle is being tested in California (no link)

• the bullshit methane-monitoring device 
• BSMMD
• designed and deployed by a partnership between Algore, Jerry Brown, and Mickey Mouse
• if the device works, there are rumors it will be tested in Washington, DC

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El Chapo Extradited

The Trump effect.

• all agreed the extradition would eventually occur
• all agreed that the process could take another two years
• all agree that Mexico did not want President Trump to get the "credit" for the extradition

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The Market

Dow 30:

• Just before Donald Trump spoke: + 97 points
• Immediately after Donald Trump spoke: + 78 points
• At the close: + 94 points

President Trump wants 4% growth. President Obama never saw 3% growth in GDP in any of his eight years.

Individual companies:

• CMCSA: hit an all-time high (a big whoop)
• UNP: up a nice 2.22% (another big whoop)
• SRE: up slightly
• XLNX: up slightly

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When Folks Laughed At Trump

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